Independent Advisor Alliance Lowers Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Independent Advisor Alliance lessened its holdings in Hormel Foods Co. (NYSE:HRL) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,998 shares of the company’s stock after selling 2,948 shares during the period. Independent Advisor Alliance’s holdings in Hormel Foods were worth $1,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HRL. Bank of New York Mellon Corp grew its position in shares of Hormel Foods by 67.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after purchasing an additional 1,175,087 shares in the last quarter. Holocene Advisors LP boosted its stake in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after purchasing an additional 802,816 shares during the period. State Street Corp grew its holdings in Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock valued at $794,659,000 after buying an additional 617,308 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $16,612,000. Finally, Vest Financial LLC lifted its holdings in shares of Hormel Foods by 17.0% in the fourth quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock worth $57,271,000 after buying an additional 264,813 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HRL shares. Citigroup cut their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Up 0.1 %

HRL opened at $29.53 on Friday. The stock has a 50-day moving average of $29.59 and a 200 day moving average of $30.86. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The firm has a market cap of $16.24 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.